Kornitzer Capital Management Inc. KS Has $11,463,000 Position in Northern Trust Corp. (NTRS)
Kornitzer Capital Management Inc. KS decreased its position in shares of Northern Trust Corp. (NASDAQ:NTRS) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,999 shares of the company’s stock after selling 16,826 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.08% of Northern Trust Corp. worth $11,463,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Financial Architects Inc increased its position in Northern Trust Corp. by 5,936.0% in the second quarter. Financial Architects Inc now owns 1,509 shares of the company’s stock worth $100,000 after buying an additional 1,484 shares during the period. Creative Planning increased its position in Northern Trust Corp. by 61.9% in the second quarter. Creative Planning now owns 1,755 shares of the company’s stock worth $116,000 after buying an additional 671 shares during the period. Raymond James Trust N.A. increased its position in Northern Trust Corp. by 5.9% in the second quarter. Raymond James Trust N.A. now owns 3,663 shares of the company’s stock worth $243,000 after buying an additional 204 shares during the period. BlueMountain Capital Management LLC purchased a new position in Northern Trust Corp. during the first quarter worth about $254,000. Finally, Copper Rock Capital Partners LLC purchased a new position in Northern Trust Corp. during the second quarter worth about $261,000. Institutional investors own 81.71% of the company’s stock.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 1.12% on Friday, reaching $70.59. The company’s stock had a trading volume of 951,755 shares. Northern Trust Corp. has a 12-month low of $54.38 and a 12-month high of $76.11. The stock has a market cap of $15.99 billion, a PE ratio of 17.44 and a beta of 1.13. The firm has a 50 day moving average price of $69.59 and a 200-day moving average price of $68.85.
Northern Trust Corp. (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The firm earned $1.32 billion during the quarter, compared to analyst estimates of $1.22 billion. Northern Trust Corp. had a return on equity of 11.38% and a net margin of 19.38%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. Equities research analysts expect that Northern Trust Corp. will post $4.24 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 2nd were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.15%. This is a positive change from Northern Trust Corp.’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Wednesday, August 31st. Northern Trust Corp.’s payout ratio is presently 37.53%.
A number of equities analysts have issued reports on NTRS shares. Goldman Sachs Group Inc. downgraded Northern Trust Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $82.00 to $71.00 in a report on Thursday, July 7th. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday, October 5th. Deutsche Bank AG set a $71.00 price target on Northern Trust Corp. and gave the company a “hold” rating in a report on Friday, August 5th. Credit Agricole SA raised their price target on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a report on Friday, September 23rd. Finally, Jefferies Group restated a “hold” rating and set a $77.00 price target on shares of Northern Trust Corp. in a report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Northern Trust Corp. has a consensus rating of “Hold” and an average target price of $72.27.
In related news, insider Clair Joyce St sold 48,110 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $67.02, for a total transaction of $3,224,332.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jeffrey D. Cohodes sold 7,616 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $72.35, for a total value of $551,017.60. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Northern Trust Corp. Company Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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